I was an authorized user only on 3 of my Grandmother's credit cards. She passed 2 years ago. I can not afford to pay her debt. How do I go about having these items removed from my credit report?
I understand your situation. Are you capable of paying some amount of the debt? If so, then you can try to settle the debt with the creditors. You will need to calculate the amount that you can pay and negotiate it accordingly with the creditors. You can phone the creditors or send them offer letters for settlement. If you are successful in getting a settlement agreement done, then send them pay for delete letters asking to remove the negative listing from your report.
In case you are not able to pay the debt amount at all, then you might have to file bankruptcy. You can file a chapter 7 bankruptcy where the creditors will get the debt amount by selling your assets. Otherwise you can file a chapter 13 bankruptcy, wherein you will have to pay the debt through a repayment plan with the consent of both parties. This is done under the supervision of the court.
However, I would suggest you to try and settle the debt, since bankruptcy affects your credit score badly and it stays on the credit report for 10 years.
Hi Jassica,
I understand your situation. Are you capable of paying some amount of the debt? If so, then you can try to settle the debt with the creditors. You will need to calculate the amount that you can pay and negotiate it accordingly with the creditors. You can phone the creditors or send them offer letters for settlement. If you are successful in getting a settlement agreement done, then send them pay for delete letters asking to remove the negative listing from your report.
In case you are not able to pay the debt amount at all, then you might have to file bankruptcy. You can file a chapter 7 bankruptcy where the creditors will get the debt amount by selling your assets. Otherwise you can file a chapter 13 bankruptcy, wherein you will have to pay the debt through a repayment plan with the consent of both parties. This is done under the supervision of the court.
However, I would suggest you to try and settle the debt, since bankruptcy affects your credit score badly and it stays on the credit report for 10 years.